RCS - AEQUITA SE &Co. KGaA - AEQUITA acquires TMD Friction Group from Nisshinbo
23/08/2023 11:30
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RNS Number : 2209K AEQUITA SE & Co. KGaA 23 August 2023
Issuer: AEQUITA SE & Co. KGaA / Key word(s): Takeover/Investment
AEQUITA SE & Co. KGaA : AEQUITA acquires TMD Friction Group from Nisshinbo
23.08.2023 / 10:10 CET/CEST
The issuer is solely responsible for the content of this announcement.
AEQUITA acquires TMD Friction Group from Nisshinbo
Munich, 23 August 2023 - AEQUITA SE & Co. KGaA, a global industrial group
headquartered in Munich, Germany, entered into a definitive agreement to
acquire TMD Friction Group S.A. from Nisshinbo Holdings Inc.. TMD Friction is
a globally leading manufacturer and distributor of brake friction materials
for passenger cars, commercial vehicles, and industry applications. The
company serves international OEMs and Tier 1 suppliers, as well as the
independent aftermarket with many renowned brands, such as Textar, Mintex and
Pagid. TMD generates ca. 800 million euros in revenues and employs more than
4,200 people worldwide with locations across Europe, the USA, Brazil, Mexico,
China, and Japan.
The divestment follows a thorough strategic business portfolio review by
Nisshinbo. As a result, the decision was taken that the business activities of
TMD are non-core. Based on a comprehensive selection process, Nisshinbo chose
AEQUITA as the trusted partner to ensure TMD's sustainable long-term
development and future growth.
"We are very proud and honoured that Nisshinbo selected AEQUITA as the best
owner for TMD," said Christoph Himmel, Managing Partner of AEQUITA. "TMD
Friction is a great company and a significant addition to our automotive
division, now recording sales of more than 2 billion euros. With more than 135
years in the brake friction industry and its strong R&D know-how, TMD has
established itself as the global partner of choice for its blue-chip customer
base. These are strong fundamentals on which we will build on together with
the company's experienced management team and employees."
"This deal comes at exactly the right time for TMD, and we could have no
better partner than AEQUITA. It provides us with the best opportunity to run
our business independently while strengthening our competitiveness and further
driving our own ongoing transformation," explained David Baines, CEO of TMD
Friction. "The team at AEQUITA will support us to build a much more robust and
profitable company, which in turn opens the strong prospect for future
growth."
The transaction is expected to be completed in the fourth quarter of 2023,
subject to approval by the relevant authorities. The financial details of the
agreement are not being disclosed.
About Nisshinbo
Nisshinbo Holdings Inc is a Japanese, listed company. It operates across
several business segments including wireless and communications, microdevices,
brakes and other businesses. In 2022, Nisshinbo achieved sales of 516 billion
yen (>3 billion euros) with approximately 21,000 employees worldwide. For
further information, please visit: https://www.nisshinbo.co.jp/
(https://www.nisshinbo.co.jp/)
About AEQUITA
AEQUITA is a Munich-based family office investing in special situations
including corporate carve-outs, successions, and transformational situations
across Europe. Its current portfolio spreads across the automotive, industrial
goods, and construction industries with 1.5 billion euros in revenues. With a
strong capital base, entrepreneurial expertise, and a partnership approach,
the team focuses on the acquisition and long-term value enhancement of
companies that can benefit from an operational engagement.
Contact
Simon Schulz
Partner
AEQUITA SE & CO. KGaA
Gabrielenstr. 9
D-80636 München
T +49 89 2620 4840 0
E contact@aequita.com (mailto:contact@aequita.com)
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Language: English
Company: AEQUITA SE & Co. KGaA
Gabrielenstr. 9
80636 München
Germany
Internet: www.aequita.com
EQS News ID: 1709289
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